Press Club

Just Listed in Arlington

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”

Sellers did their part this week to keep Arlington’s real estate market humming along by listing 69 homes. But buyers continued their mediocre trend of ratifying only 53 contracts, very similar to the last three weeks. In previous years, we would typically see 60 to 65 ratified contracts a week in the peak of the Fall market.

Mortgage interest rates shot up again this week with the 30-yr fixed rate climbing to 5%-5.125%, the highest rates in seven years. The stock market big drop this week didn’t yet influence mortgage rates to ease back. But that could happen next week if Wall Street continues a downturn. As capital flows from equities to bonds, it usually pushes down the bond yield which influences long term interest rates.

There was good news this week that unemployment is at a 60-yr low, and average wages across the US have increased 2.8%. But we are still waiting to see the average household income in the DMV increase for the first time in five years.

Click here to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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